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Official texts & related documents

Recast of the UCITS Directive

Directive 2009/65/ECpdf of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast)

UCITS Directive – Consolidated text

Council Directive 85/611/EECpdf on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS).

(consolidated text – please note that the consolidated text is not binding)

Amendments and implementing provisions

  • Commission Directive 2007/16/EC implementing Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the clarification of certain definitions.

    (The text clarifies definitions of eligible assets for UCITS with regard to certain classes of assets)

    See also: Press release Choose translations of the previous link  (19.03.2007)

     
  • Directive 2008/18/ECpdf of the European Parliament and of the Council of 11 march 2008 amending council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the implementing powers conferred on the Commission.

     
  • Directive 2005/1/EC of the European Parliament and of the Council of 9 March 2005 amending Council Directives 73/239/EEC, 85/611/EEC, 91/675/EEC, 92/49/EEC and 93/6/EEC and Directives 94/19/EC, 98/78/EC, 2000/12/EC, 2001/34/EC, 2002/83/EC and 2002/87/EC in order to establish a new organisational structure for financial services committees.

    This text replaces the UCITS Contact Committee by the European Securities Committee.

     
  • Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC (OJ L 145, 30.4.2004).

    The MiFID is relevant for UCITS insofar as it applies when intermediairies distribute UCITS.

     
  • Directive 2001/108/EC of the European Parliament and of the Council of 21 January 2002 amending Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), with regard to investments of UCITS.

    Official Journal L 041, 13.02.2002, p.35 – 42.

    This text extends the range of assets eligible for investment by UCITS.

    Implementation – disclaimerpdf Choose translations of the previous link 

     
  • Directive 2001/107/EC of the European Parliament and of the Council of 21 January 2002 amending Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) with a view to regulating management companies and simplified prospectuses.

    Official Journal L 041, 13.02.2002, p.20 – 34.

    This text puts in place new requirements for management companies and a simplified disclosure document.

    Implementation – disclaimerpdf Choose translations of the previous link 

    Current state of play – Implementation of UCITS Directives 2001/107/EC & 2001/108/ECpdf Choose translations of the previous link 

Notifications on financial instruments according to article 52(4) of Directive 2009/65/EC

Information on Instruments according to Article 52(4) of the Directive 2009/65/EC

UCITS Recommendations

  • Commission Recommendation 2004/383/EC of 27 April 2004 on the use of financial derivative instruments for undertakings for collective investment in transferable securities (UCITS)

     
  • Commission Recommendation 2004/384/EC of 27 April 2004 on some contents of the simplified prospectus as provided for in Schedule C of Annex I to Council Directive 85/611/EEC

Communications and other relevant EU documents

  • Commission Interpretative Communication on the respective powers retained by the Home Member State and the Host Member State in the marketing of UCITS pursuant to Section VIII of the UCITS Directive – COM(2007)112
     
  • Communication COM(2004)207 from the Commission to the Council and to the European Parliament of 30 March 2004 on the Regulation of UCITS Depositaries in the Member States: review and possible developments – COM(2004)207

Archives

17.01.2007Approval by the ESC of the revised Draft Commission implementing directive on the clarification of definitions related to eligible assets for UCITS
05.09.2006Draft Commission implementing directive on the clarification of definitions related to eligible assets for UCITS
15.03.2006Working Documents ESC 13/2006 Englishand 14/2006 Englishon clarification of definitions related to eligible assets for UCITS
28.10.2004Formal mandate to CESR on clarification of certain definitions in the UCITS Directive (CESR Mandatepdf Choose translations of the previous link )

(see also CESR website section on the expert group on investment management for additional information: www.cesr-eu.org)